August Level III CBT Exam experience

CFA Level III
#21

I’ve experienced that every question is very clear on what they are asking.
If we need to show formulae, the questions will clearly say “Justify your answer” or something like that.
If they only ask for answers, you don’t need to show all your calculations.

#22

In my May 2021 experience, we did not need to write formulas. If you are worried about getting the wrong calculation answer and want to show your work just in case, you can write out an explanation in the space allowed as an “optional” next question… that is only graded in the event you got the main question’s calculation wrong - that’s your opportunity for partial credit. I too was a quite worried about typing formulas out in CBT format, but it ended up being fine honestly.

The key thing is to know the formulas cold. The calculation questions on the exam seemed fairly straightforward in their construction when I took it, which could explain the higher recent MPS cutoff levels. You want to avoid barely being on the wrong side of the MPS line.

Cheers - good luck - you got this :+1:

#23

So there will be an optional space to show our calculations is that right?
I’m repeatedly running into AM mocks that clearly state “show your calculations.” Do we not show our calculations for those? Do we the calcs. In the so called “optional” space?

Or are u saying there are no longer questions that say “show your calculations”? Thanks.

#24

To my general recollection, this is correct. The “show calculations” were generally optional. Maybe there were some that weren’t but I can’t recall. I would suggest taking the Kaplan November CBT test, they got it pretty correct as to the actual Prometric format for the May exam anyway. I can’t say if anything has changed since this summer.

Here is a link from CFAI, as well: Level III CFA® Exam Structure

Cheers - good luck - you got this👍

#25

Ouch to no partial credit for calculations….

But thanks for the color as always!

#26

Hi, thanks for your response earlier. Just want to check do they give the topic wise questions at the beginning so that one can attempt the more favorite topic first. Is that option available in the CBT format as it was pre CBT

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#27

And imagine when you’ve never used a QWERTY keyboard and English is not your mother tongue…